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Posts Tagged ‘Jess Maxcy’

Luxury U.S. Home sales Slumping, What Does it Mean for Manufactured Housing?

August 29th, 2016 Comments off
HighEndHousingMarketSlide-creditZeroHedge-postedDailyBusinessNewsMHProNews

Single-family home sales in Aspen are down 62% in dollar volume through the first-half of the year. Sales of homes priced at $10 million or more — almost always paid for in cash — are down 60% – source, ZeroHedge. Photo credit, ZeroHedge, text credit, MHProNews.

Redfin reported that so-called luxury home sales – defined as the top 5 percent of all housing on the market – were in retreat, in a report last May.  On August 27, Tyler Durden’s ZeroHedge headline stated that “…Housing Markets In The Hamptons, Aspen And Miami Are All Crashing.” Reuters blamed this onstock market jitters earlier in the year.”

While Obama Administration officials, and the president himself, have periodically pointed out that the U.S. economy is outperforming much of the world, that doesn’t mean that the economic picture is clear, on solid ground or in any way rosy.

Indeed, at the Jackson Hole, WY meeting of global central bankers, “tools” such as negative interest rates were being discussed, and have been used in various nations around the globe. The wealthy are often far better in tune with economic concerns and market trends.

People are worried about all kinds of stuff these days,” high-end Aspen, CO broker Bob Ritchie was quoted in ZeroHedge. I’ve never seen anything like this before.”

 The international component is not as intense,” real estate appraiser and data expert Jonathan Miller said about Miami’s high-end housing market.

Miami, along with other East and West coast luxury markets saw a boom, credited in part to cash sales from foreign buyers, who use the National Association of Realtor’s exemption from Anti-Money Laundering. But as commodities and the U.S. dollar has risen, those high end purchases are scaling back.

Miller noted that the rest of the housing market has been pretty stable. Redfin’s recent charts on this page reflect that stability too.

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Chart credit, RedFin.

AverageHousePricesTop5%VsOther95%credit-RedFin-PostedDailyBusinessNews-MHProNews-

Is manufactured housing better positioned than in 2008 to face an economic downturn?  The short answer is, it depends.  On paper, manufactured housing is at the most affordable end of the housing spectrum, and that logically ought to be the most able to weather an economic storm.

AverageSalesPricesNewManufacturedHomes2015-2016-USCensusBureau-posted-DailyBusinessNews-MHProNews

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Jess Maxcy, president, California Manufactured Housing Institute (CMHI).

But the reality is that the lowest end of the economic spectrum is the least financial stable, as Jess Maxcy and other industry veterans have noted.

The industry’s ability to better promote itself to the general public thus could be crucial if and when another economic downturn hits the nation, which is going to have consequences – good, bad or mixed – for the factory-built home industry. ##

(Editor’s note 1: a recent report on manufactured housing benefiting in the shadow of over-heated coastal sales markets suggests one path ahead for manufactured homes, see link here.)

(Image credits, ZeroHedge, top 2 charts RedFin, final chart, MHProNews.)

(Editor’s Note 2: Matthew Silver is taking some much needed and well-earned time off, and L. A. “Tony” Kovach will be helping fill the Daily Business News role in the interim).

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L. A. ‘Tony’ Kovach is the publisher of MHProNews.com and MHLivingNews.com.

Article submitted to the Daily Business News by L. A. “Tony” Kovach, MHProNews.

 

Doug Ryan, CFED, HR 650/S 682 and Manufactured Home Lending

October 9th, 2015 Comments off

doug_ryan_cltnetworkWriting in an Industry in Focus report, MHProNews publisher L. A. ‘Tony’ Kovach lines up various references and witnesses to call publicly upon CFED’s Doug Ryan to modify its opposition to the Preserving Access to Manufactured Housing Act (HR 650/S 682).

Citing Barney Frank, Marty Lavin, research done by Jan Hollingsworth, Jess Maxcy, Liz Romanchek and others, Kovach lays out a systematic case that respects CFED’s overall support of MH, while critiquing Ryan’s failure to modify his stance on personal property lending.

For the full commentary and analysis, click here. ## 

(Photo credit: CLTNetwork–CFED’s Doug Ryan)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Manufactured Home Community Owners Group to Bestow Awards, Discuss Issues

May 11th, 2015 Comments off

california_mobilehome_parkowners_allianceThe California Mobilehome Parkowners Alliance (CMPA) will honor seven manufactured housing industry members at its symposium May 31-June 1, 2015 in Las Vegas. Barry Cole of Manufactured Housing Insurance Services will receive top honors as recipient of The Chelu Travieso-Earhart Lifetime Achievement Award. Attorney Phil Woog will receive the Freedom Fighter award, and the Advocacy Fighter honor will be bestowed upon Jess Maxcy of the California Manufactured Housing Institute (CMHI).

The Soaring with the Eagles Awards are given in three different categories: Finance, Manufacturer and Dealer. Dick Ernst of Financial Marketing Services is being honored with the finance award. Golden West Homes is receiving the manufacturer honor, and Horizon Home Sales will be honored in the dealer category. So Cal Manufactured Housing Construction Inc. is being honored for their overall contributions to the industry.

In addition the symposium will offer panel discussions regarding legal and rent issues, as well as the effect of the current drought crisis in California on the manufactured housing industry, as CMPA informs MHProNews. ##

(Image credit: California Mobilehome Parkowners Alliance)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

Who Speaks for You in MH? Manufactured Housing’s Industry Voices 

November 28th, 2014 Comments off

industry-voices-collage-l-to-r-toprow-bottom-row-djpendelton-jay-hamilton-amy-bliss-marty-lavin-doug-ryan-bob-vahsholts-steve-lefler-jess-maxcy-bill-matchneer--dick-ernst-manufactured-housing-mhpronews-com-Who speaks for you in manufactured housing (MH)? Associations? Individuals? Corporations?

There are many voices in MH, and with the Industry Voices (IV) guest blog, any MH Professional, enthusiast or aficionado can submit a letter to the editor or an OpEd guest column.

Industry Voices  is one of our most popular MHProNews blogs, and some of these letters and OpEds are read months – or even years – after they are first published.

You don’t have to agree with any MHProNews editorial position to submit an article.  In fact, a variety of opinions and perspectives are precisely what makes IV a hot read.

Here are some current IV post headlines and their author: 

County Violated the Law in restricting placement of older Manufactured Homes? – Jay Hamilton

Favorable Juncture of Circumstances – CMHI Viewpoint – Jess Maxcy

Who Represents Manufactured Housing? – Bob Vahsholtz

A home built in a factory can be a home just like a site built? – Steve Lelfer

DJ Quixote’s Adventures In La Manufactured Housing – DJ Pendleton

An analysis of The Atlantic’s report on Manufactured Housing, CFPB and MH Financing – Amy Bliss

MHI, MHARR, MHIndustry Associations and the Manufactured Housing Leadership Issue

CFED’s Doug Ryan Sounds off on Consumer Financial Protection Bureau (CFPB) Report on Manufactured Housing and MH FinancingDoug Ryan

Manufactured Housing Institute Responds to Doug Ryan-CFED commentary on CFPB report on Manufactured Housing Finance Jason Boehlert (now leaving the industry…see link here)

Preparing For CFPB’s New Appraisal And Valuation Rules – Dick Ernst

Where are we now? A Second Chance. – Marty Lavin

Kudos on Ron D’Ambra’s Thoughtful Article on HUD Code and Manufactured Housing Affordability – Bill Matchneer

To submit your own letter for consideration, please email this link and put Industry Voices in the subject line. ##

(MHProNews Photo Collage: Top left to right, top line towards bottom line = DJ Pendleton, Jay Hamilton, Amy Bliss, Marty Lavin, Steve Lefler, Doug Ryan, Bob Vahsholtz, Bill Matchneer, Jess Maxcy, Dick Enrst.)

Manufactured Home Sales Rise 24 Percent in California

May 21st, 2014 Comments off

The California Manufactured Housing Institute (CMHI) informs MHProNews.com 70 percent of manufactured home sales there are not starter homes but rather second homes or people downsizing to an aging in place residence. Increasingly, people are paying in cash, and, according to CMHI President Jess Maxcy, the trend towards the higher-end customer has pushed the price of homes sold up six percent, from $94,070 in March 2013 to $100,000 as of March 2014. Additionally, shipment of new homes rose 24 percent for Jan. and Feb. 2014 over the same time period of 2013, and the number of dealers is increasing, reports the newsletter from the Manufactured Housing Institute (MHI). ##

(Photo credit: Riley Transport–new manufactured home being delivered)

Manufactured Home Sales Rising in California

May 8th, 2014 Comments off

Mike Taylor of Pacific Manufactured Homes in Beaumont, California says the mix of those buying manufactured homes is shifting from first-time buyers to vacation or second-home buyers and to people downsizing who may be looking to retire. The California Manufactured Housing Institute (CMHI) reports 70 percent of the sales are being made to cash buyers not seeking entry-level homes, but to people who have sold their stick-built homes now that prices have risen to get them above water. Jess Maxcy, president of CMHI, says traffic in showrooms is up 25 percent, and shipments of new homes rose 24 percent in January and February over the same period last year, according to pe.com. The 44,203 manufactured home sales in 2013 in California (41,987 were sales of existing manufactured homes) represented an 11.2 increase over 2012. Costs for new homes have been running around $55 per square foot, MHProNews has learned, as opposed to around $100 per square foot for a comparable site built home. ##

(Photo credit: nbcsandiego.com–manufactured homes)

Malibu and Maxey reminds us some ‘mobiles’ are worth millions

September 8th, 2011 Comments off

Paradise Cove Malibu CA McClatchy News ServiceCalgaryHerald reports on a story MHProNews.com has previously covered, that even ‘mobile homes’ (sic) on the Malibu, CA coast can be worth millions.   Two gated, ocean-view communities in Malibu – Paradise Cove and Point Dume Club – struggled during the downturn. “In 2008 and 2009 people were just scared to death, even the wealthiest of buyers,” said Kirk Murray, a real estate agent with Pritchett-Rapf who lives in Paradise Cove. But these home sites to celebrities have rebounded. Sale prices at Paradise Cove reached $2.5 million last year, and at Point Dume a sale is pending on a two-bedroom manufactured home listed at $1.25 million.  One home listed has a stunning views of the ocean, more than 2,300 square feet of living space, a broad deck, two bedrooms and two baths for a cool $2.275 million dollars. California’s manufactured housing market suffered a 33 percent drop in sales and a 47 percent plunge in prices over the last five years, per the California Department of Housing and Community Development. Jess Maxcy, president of the California Manufactured Housing Institute, told the CalgaryHerald that these are ‘not’ mobile homes, “Most homes are never moved after the initial installation,” Maxcy said. Property taxes on manufactured homes are  about the same as for a site-built house on the same lot, Maxcy said. “The difference is in a park where you are leasing the land,” he said. “You pay the property tax rate only on the home. The owner of park pays the property taxes on the land.”  Tom Spencer, a retired commander with the Los Angeles County Sheriff’s Department, bought a three-bedroom, two bath home for $650,000 and he spends about $1,200 a month on his lot rent, water and electricity. Spencer said, “I couldn’t be happier.”  Paradise Cove newcomer Gina Carlson moved into her 1,500-square-foot, $645,000 home in June. “I took the leap that some people can’t get their heads around,” Carlson said, adding she wouldn’t go back to her previous place. “Maybe the good energy of Malibu brings out the best in people,” she said.

(Photo credit, Paradise Cove, McClatchy News Service)